Kendall Capital Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Kendall Capital Management reported 232 stock positions worth $443.6 million. Its top holding was iShares Russell 2500 ETF (SMMD) at 5.5% of the portfolio, followed by JPMorgan Int Res Enh Eqty (JIRE, 5.0%) and T.rowe PRC Small-Mid Cap ETF (TMSL, 5.0%). Compared with Q2 2025, it opened 12 new positions, sold out of 5, added to 89 and reduced 101. The biggest buy was a new position in T.rowe PRC Small-Mid Cap ETF (TMSL) and the biggest sale iShares Core MSCI Eafe ETF (IEFA, shares −73%).
- Most Recent 13F
- Q2 2026
- Location
- ROCKVILLE, MD
- CIK
- 0001731372
- Portfolio Value
- $443.6M (Q3 2025)
- SEC Filing
- 0001731372-25-000006 ↗ filed Nov 13, 2025
Holdings Value
Holdings 232 stocks · $443.6M
| SMMD iShares Russell 2500 ETF | 5.51% | 331,297 | $24.4M | Add +6.7% |
| JIRE JPMorgan Int Res Enh Eqty | 5.03% | 303,288 | $22.3M | Add +23.6% |
| TMSL T.rowe PRC Small-Mid Cap ETF | 4.95% | 624,577 | $22.0M | New |
| AVGO Broadcom Inc. | 3.91% | 52,530 | $17.3M | Reduce -2.8% |
| VUG Vanguard Mrngstar GR ETF-Sui | 2.69% | 24,874 | $11.9M | Add +7.9% |
| JPST JPMorgan Ultra-Short Income | 2.23% | 195,074 | $9.9M | Add +0.6% |
| AVT Avnet Inc. | 1.84% | 156,225 | $8.2M | Add +4.5% |
| VSEC Vse Corp. | 1.77% | 47,215 | $7.8M | Reduce -12.9% |
| DELL Dell Technologies -C | 1.68% | 52,640 | $7.5M | Add +2.5% |
| CLS Celestica Inc. | 1.65% | 29,784 | $7.3M | Reduce -10.3% |
| OMC Omnicom Group | 1.55% | 84,275 | $6.9M | Add +1.4% |
| KLAC KLA Corp. | 1.54% | 6,337 | $6.8M | Reduce -2.8% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.53% | 22,069 | $6.8M | Reduce -0.1% |
| EQH Equitable Holdings Inc. | 1.42% | 124,239 | $6.3M | Add +5.2% |
| HPE Hewlett Packard Enterprise | 1.38% | 248,379 | $6.1M | Add +15.6% |
| ABBV Abbvie Inc. | 1.37% | 26,242 | $6.1M | Reduce -2.7% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.33% | 20,042 | $5.9M | No change |
| VCTR Victory Capital Holding - A | 1.30% | 88,944 | $5.8M | Reduce -1.4% |
| COR Cencora Inc. | 1.29% | 18,239 | $5.7M | Add +1.2% |
| AAPL Apple Inc. | 1.27% | 22,089 | $5.6M | Add +1.7% |
| GOOGL Alphabet Inc. Class A | 1.12% | 20,480 | $5.0M | Add +3.8% |
| VTI VG Morningstar TS MKT ETF-US | 1.07% | 14,457 | $4.7M | Reduce -0.3% |
| CDW CDW Corp. | 1.06% | 29,620 | $4.7M | Add +1.6% |
| NXST Nexstar Media Group Inc. | 1.05% | 23,614 | $4.7M | Add +23.4% |
| CSGS CSG Systems Intl Inc. | 0.96% | 66,285 | $4.3M | Add +9.9% |
| WLY Wiley (john) & Sons Class A | 0.90% | 98,262 | $4.0M | Add +4.9% |
| TDTF NT Iboxx 5Y Dur Tips ETF | 0.88% | 160,830 | $3.9M | Add +0.0% |
| FHI Federated Hermes Inc. | 0.87% | 74,655 | $3.9M | Add +8.0% |
| JXN Jackson Financial Inc. Class A | 0.87% | 38,030 | $3.8M | Reduce -9.1% |
| HPQ HP Inc. | 0.84% | 137,197 | $3.7M | Add +6.3% |
| LRN Stride Inc. | 0.82% | 24,335 | $3.6M | Add +1.8% |
| MA Mastercard Inc. Class A | 0.81% | 6,331 | $3.6M | Add +1.0% |
| GEN Gen Digital Inc. | 0.80% | 124,895 | $3.5M | Add +26.4% |
| CMI Cummins Inc. | 0.79% | 8,268 | $3.5M | Add +0.7% |
| HRB H&R Block Inc. filed as BLOCK H & R INC | 0.74% | 65,235 | $3.3M | Add +4.5% |
| UNM Unum Group | 0.72% | 40,960 | $3.2M | Reduce -1.3% |
| CALM Cal-Maine Foods Inc. | 0.68% | 31,940 | $3.0M | Reduce -1.4% |
| ACMR Acm Research Inc. Class A | 0.68% | 76,771 | $3.0M | Add +42.0% |
| UTHR United Therapeutics Corp. | 0.68% | 7,150 | $3.0M | Reduce -0.4% |
| ARW Arrow Electronics Inc. | 0.67% | 24,480 | $3.0M | Add +0.7% |
| R Ryder System Inc. | 0.64% | 15,035 | $2.8M | Reduce -2.4% |
| NVDA Nvidia Corp. | 0.64% | 15,140 | $2.8M | Add +1.4% |
| CMRE Costamare Inc. | 0.64% | 237,154 | $2.8M | Add +2.3% |
| EXPE Expedia Group Inc. | 0.62% | 12,815 | $2.7M | Add +4.5% |
| UPBD Upbound Group Inc. | 0.61% | 114,485 | $2.7M | Add +21.9% |
| BMY Bristol-Myers Squibb Co. | 0.60% | 59,482 | $2.7M | Add +6.7% |
| MCK McKesson Corp. | 0.57% | 3,301 | $2.6M | Add +5.4% |
| IWC iShares Micro-Cap ETF | 0.57% | 17,074 | $2.5M | Reduce -3.2% |
| ORLY O'reilly Automotive Inc. | 0.56% | 23,130 | $2.5M | Reduce -1.8% |
| URI United Rentals Inc. | 0.53% | 2,477 | $2.4M | Reduce -3.9% |
| META Meta Platforms Inc. Class A | 0.53% | 3,215 | $2.4M | Add +1.1% |
| CBOE Cboe Global Markets Inc. | 0.49% | 8,822 | $2.2M | Reduce -0.5% |
| BWA Borgwarner Inc. | 0.46% | 46,075 | $2.0M | Add +2.3% |
| IT Gartner Inc. | 0.46% | 7,686 | $2.0M | Reduce -1.5% |
| FISV Fiserv Inc. | 0.43% | 14,873 | $1.9M | Reduce -1.6% |
| CBNK Capital Bancorp Inc. | 0.43% | 60,040 | $1.9M | No change |
| AN Autonation Inc. | 0.42% | 8,435 | $1.8M | Reduce -0.1% |
| VTRS Viatris Inc. | 0.41% | 183,080 | $1.8M | Add +1.2% |
| ACN Accenture PLC Class A | 0.41% | 7,330 | $1.8M | Add +39.1% |
| HCA HCA Healthcare Inc. | 0.40% | 4,150 | $1.8M | Reduce -0.4% |
| GRBK Green Brick Partners Inc. | 0.39% | 23,688 | $1.7M | Add +5.5% |
| CBRE CBRE Group Inc. Class A | 0.39% | 11,036 | $1.7M | Reduce -0.3% |
| TPR Tapestry Inc. | 0.39% | 15,200 | $1.7M | Reduce -5.4% |
| TNL Travel + Leisure Co. | 0.38% | 28,535 | $1.7M | Add +16.2% |
| FDM First Trust Dow J Select Mic | 0.38% | 22,209 | $1.7M | No change |
| KHC The Kraft Heinz Co. | 0.37% | 63,420 | $1.7M | Reduce -10.5% |
| CSCO Cisco Systems Inc. | 0.36% | 23,588 | $1.6M | Reduce -5.7% |
| MRK Merck & Co. Inc. | 0.36% | 19,075 | $1.6M | Add +7.8% |
| VWO Vanguard Ftse Emerging Marke | 0.36% | 29,090 | $1.6M | Add +1.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.34% | 5,910 | $1.5M | No change |
| PSMT Pricesmart Inc. | 0.33% | 11,950 | $1.4M | Add +0.4% |
| GSK GSK PLC-Spon ADR | 0.32% | 32,941 | $1.4M | Add +29.4% |
| TMHC Taylor Morrison Home Corp. | 0.32% | 21,510 | $1.4M | Add +1.8% |
| JNJ Johnson & Johnson | 0.31% | 7,515 | $1.4M | Reduce -0.3% |
| MEDP Medpace Holdings Inc. | 0.31% | 2,700 | $1.4M | Reduce -5.4% |
| IEFA iShares Core MSCI Eafe ETF | 0.31% | 15,850 | $1.4M | Reduce -72.5% |
| SLM SLM Corp. | 0.31% | 49,860 | $1.4M | Reduce -2.9% |
| ALSN Allison Transmission Holding | 0.31% | 16,010 | $1.4M | Add +11.8% |
| IWB iShares Russell 1000 ETF | 0.30% | 3,692 | $1.3M | No change |
| NFG National Fuel Gas Co. | 0.30% | 14,588 | $1.3M | Add +2.1% |
| CRUS Cirrus Logic Inc. | 0.30% | 10,510 | $1.3M | Add +0.7% |
| MAR Marriott International Class A | 0.30% | 5,033 | $1.3M | Reduce -2.6% |
| UGI Ugi Corp. | 0.29% | 38,920 | $1.3M | Add +12.8% |
| TGNA Tegna Inc. | 0.29% | 63,452 | $1.3M | Reduce -4.3% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.29% | 6,909 | $1.3M | Add +503.9% |
| GLDM SPDR Gold Minishares Trust | 0.29% | 16,709 | $1.3M | Reduce -2.0% |
| ISCG iShares Morningstar Small-Ca | 0.29% | 23,500 | $1.3M | No change |
| TAP Molson Coors Beverage Co. Class B | 0.29% | 28,130 | $1.3M | Reduce -0.1% |
| PAG Penske Automotive Group Inc. | 0.29% | 7,315 | $1.3M | Reduce -2.5% |
| XSMO Invesco S&P Smallcap Momentu | 0.28% | 17,000 | $1.3M | No change |
| VVX V2X Inc. | 0.28% | 21,410 | $1.2M | Add +57.4% |
| SLYV SS SPDR S&P 600 SC Val ETF | 0.28% | 14,000 | $1.2M | No change |
| TBBK The Bancorp Inc. | 0.28% | 16,520 | $1.2M | Reduce -4.3% |
| REGN Regeneron Pharmaceuticals | 0.27% | 2,124 | $1.2M | Reduce -0.2% |
| VT Vanguard Tot World STK ETF | 0.27% | 8,653 | $1.2M | Reduce -0.7% |
| MSFT Microsoft Corp. | 0.27% | 2,286 | $1.2M | Add +1.1% |
| QCOM Qualcomm Inc. | 0.26% | 6,915 | $1.2M | Add +14.6% |
| VLO Valero Energy Corp. | 0.26% | 6,745 | $1.1M | Reduce -1.9% |
| COF Capital One Financial Corp. | 0.26% | 5,372 | $1.1M | Reduce -10.1% |
| VST Vistra Corp. | 0.25% | 5,725 | $1.1M | Reduce -4.1% |
Portfolio Sells Q2 2025 → Q3 2025
| IEFA iShares Core MSCI Eafe ETF | Reduce -72.5% | 0.31% | −0.96 |
| IT Gartner Inc. | Reduce -1.5% | 0.46% | −0.38 |
| FISV Fiserv Inc. | Reduce -1.6% | 0.43% | −0.26 |
| VCTR Victory Capital Holding - A | Reduce -1.4% | 1.30% | −0.22 |
| SFM Sprouts Farmers Market Inc. | Reduce -0.6% | 0.25% | −0.20 |
| PRGS Progress Software Corp. | Reduce -26.9% | 0.14% | −0.18 |
| CALM Cal-Maine Foods Inc. | Reduce -1.4% | 0.68% | −0.18 |
| UNM Unum Group | Reduce -1.3% | 0.72% | −0.17 |
| NOMD Nomad Foods Ltd. | Reduce -4.5% | 0.23% | −0.14 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -0.1% | 1.53% | −0.14 |
| SLM SLM Corp. | Reduce -2.9% | 0.31% | −0.13 |
| JXN Jackson Financial Inc. Class A | Reduce -9.1% | 0.87% | −0.11 |
| KHC The Kraft Heinz Co. | Reduce -10.5% | 0.37% | −0.11 |
| VSEC Vse Corp. | Reduce -12.9% | 1.77% | −0.11 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -0.3% | 1.07% | −0.10 |
| CSCO Cisco Systems Inc. | Reduce -5.7% | 0.36% | −0.10 |
| GMS GMS Inc. | Sold out | 0.00% | −0.09 |
| CPAY Corpay Inc. | Reduce -0.9% | 0.22% | −0.08 |
| COF Capital One Financial Corp. | Reduce -10.1% | 0.26% | −0.08 |
| MAR Marriott International Class A | Reduce -2.6% | 0.30% | −0.08 |
| FIS Fidelity National Info Serv | Reduce -2.9% | 0.15% | −0.07 |
| FSK FS KKR Capital Corp. | Reduce -4.9% | 0.10% | −0.07 |
| TAP Molson Coors Beverage Co. Class B | Reduce -0.1% | 0.29% | −0.07 |
| BG Bunge Global SA | Reduce -23.0% | 0.13% | −0.06 |
| CBOE Cboe Global Markets Inc. | Reduce -0.5% | 0.49% | −0.06 |
| BKNG Booking Holdings Inc. | Sold out | 0.00% | −0.06 |
| ACI Albertsons Cos Inc. Class A | Reduce -2.6% | 0.12% | −0.06 |
| PAG Penske Automotive Group Inc. | Reduce -2.5% | 0.29% | −0.05 |
| CMCSA Comcast Corp. Class A | Reduce -7.2% | 0.12% | −0.05 |
| VST Vistra Corp. | Reduce -4.1% | 0.25% | −0.05 |
| KEX Kirby Corp. | Sold out | 0.00% | −0.05 |
| COHU Cohu Inc. | Sold out | 0.00% | −0.05 |
| OMF Onemain Holdings Inc. | Reduce -7.1% | 0.18% | −0.05 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Reduce -12.2% | 0.19% | −0.05 |
| TXN Texas Instruments Inc. | Reduce -5.2% | 0.12% | −0.05 |
| OGN Organon & Co. | Reduce -29.1% | 0.09% | −0.05 |
| CACI Caci International Inc. Class A | Reduce -22.5% | 0.10% | −0.04 |
| SPGI S&P Global Inc. | Reduce -2.7% | 0.14% | −0.04 |
| DE Deere & Co. | Reduce -25.2% | 0.06% | −0.04 |
| NAVI Navient Corp. | Reduce -23.6% | 0.06% | −0.04 |
| AMGN Amgen Inc. | Reduce -2.9% | 0.19% | −0.04 |
| INVA Innoviva Inc. | Reduce -5.5% | 0.10% | −0.03 |
| WNC Wabash National Corp. | Sold out | 0.00% | −0.03 |
| WU Western Union Co. | Reduce -24.7% | 0.05% | −0.03 |
| BLDR Builders Firstsource Inc. | Reduce -19.8% | 0.08% | −0.03 |
| AVGO Broadcom Inc. | Reduce -2.8% | 3.91% | −0.03 |
| AN Autonation Inc. | Reduce -0.1% | 0.42% | −0.03 |
| MTH Meritage Homes Corp. | Reduce -23.5% | 0.07% | −0.03 |
| VT Vanguard Tot World STK ETF | Reduce -0.7% | 0.27% | −0.03 |
| LEA Lear Corp. | Reduce -1.1% | 0.23% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| TMSL T.rowe PRC Small-Mid Cap ETF | New | 4.95% | +4.95 |
| JIRE JPMorgan Int Res Enh Eqty | Add +23.6% | 5.03% | +0.44 |
| ACMR Acm Research Inc. Class A | Add +42.0% | 0.68% | +0.31 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +503.9% | 0.29% | +0.24 |
| HPE Hewlett Packard Enterprise | Add +15.6% | 1.38% | +0.21 |
| VEU Vanguard Ftse All-World Ex-U | New | 0.21% | +0.21 |
| GOOGL Alphabet Inc. Class A | Add +3.8% | 1.12% | +0.20 |
| NXST Nexstar Media Group Inc. | Add +23.4% | 1.05% | +0.18 |
| SJM The JM Smucker Co. | New | 0.12% | +0.12 |
| INCY Incyte Corp. | New | 0.11% | +0.11 |
| PKW Invesco Buyback Achievers Et | New | 0.11% | +0.11 |
| VVX V2X Inc. | Add +57.4% | 0.28% | +0.11 |
| IPG Interpublic Group of Cos Inc. | New | 0.09% | +0.09 |
| AAPL Apple Inc. | Add +1.7% | 1.27% | +0.09 |
| CMRE Costamare Inc. | Add +2.3% | 0.64% | +0.08 |
| CMI Cummins Inc. | Add +0.7% | 0.79% | +0.08 |
| EXPE Expedia Group Inc. | Add +4.5% | 0.62% | +0.07 |
| AAMI Acadian Asset Management Inc. | Add +49.6% | 0.16% | +0.07 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | New | 0.07% | +0.07 |
| FHI Federated Hermes Inc. | Add +8.0% | 0.87% | +0.06 |
| VECO Veeco Instruments Inc. | New | 0.06% | +0.06 |
| RITM Rithm Capital Corp. | Add +62.3% | 0.22% | +0.06 |
| GSK GSK PLC-Spon ADR | Add +29.4% | 0.32% | +0.06 |
| IVE iShares S&P 500 Value ETF | New | 0.06% | +0.06 |
| HG Hamilton Insurance Grou Class B | Add +48.5% | 0.19% | +0.06 |
| BWA Borgwarner Inc. | Add +2.3% | 0.46% | +0.06 |
| CAT Caterpillar Inc. | New | 0.05% | +0.05 |
| TNL Travel + Leisure Co. | Add +16.2% | 0.38% | +0.05 |
| IWM iShares Russell 2000 ETF | New | 0.05% | +0.05 |
| KO The Coca-Cola Co. | New | 0.05% | +0.05 |
| PR Permian Resources Corp. Class A | Add +111.6% | 0.11% | +0.05 |
| LDOS Leidos Holdings Inc. | Add +20.7% | 0.22% | +0.04 |
| PFE Pfizer Inc. | Add +52.4% | 0.15% | +0.04 |
| BHF Brighthouse Financial Inc. | Add +44.7% | 0.22% | +0.04 |
| GEN Gen Digital Inc. | Add +26.4% | 0.80% | +0.03 |
| GRBK Green Brick Partners Inc. | Add +5.5% | 0.39% | +0.02 |
| JAZZ Jazz Pharmaceuticals PLC | Add +2.7% | 0.25% | +0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +7.9% | 2.69% | +0.02 |
| DELL Dell Technologies -C | Add +2.5% | 1.68% | +0.02 |
| AMRX Amneal Pharmaceuticals Inc. | Add +34.4% | 0.06% | +0.02 |
| NVDA Nvidia Corp. | Add +1.4% | 0.64% | +0.01 |
| PLAB Photronics Inc. | Add +0.2% | 0.24% | +0.01 |
| LHX L3HARRIS Technologies Inc. | Add +5.4% | 0.11% | +0.01 |
| CRUS Cirrus Logic Inc. | Add +0.7% | 0.30% | +0.01 |
| XLK SS Technology Select Sector | Add +12.0% | 0.14% | +0.01 |
| DLX Deluxe Corp. | Add +2.8% | 0.13% | +0.01 |
| MGA Magna International Inc. | Add +4.4% | 0.09% | +0.01 |
| HPQ HP Inc. | Add +6.3% | 0.84% | +0.01 |
| QCOM Qualcomm Inc. | Add +14.6% | 0.26% | +0.01 |
| CVSA Covista Inc. | Add +0.3% | 0.11% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 236 | $600.4M | TMSL, JIRE, FMDE, DELL, AVGO |
| Q1 2026 | 231 | $488.0M | TMSL, SMMD, JIRE, AVGO, VUG |
| Q4 2025 | 230 | $478.0M | SMMD, TMSL, JIRE, AVGO, VUG |
| Q3 2025 | 232 | $443.6M | SMMD, JIRE, TMSL, AVGO, VUG |
| Q2 2025 | 225 | $378.1M | SMMD, JIRE, AVGO, VUG, JPST |
| Q1 2025 | 218 | $340.3M | SMMD, JIRE, JPST, AVGO, VUG |
| Q4 2024 | 217 | $341.8M | SMMD, AVGO, VUG, JPST, OMC |
| Q3 2024 | 210 | $323.9M | SMMD, AVGO, OMC, JPST, VSEC |
| Q2 2024 | 209 | $299.9M | SMMD, AVGO, VSEC, JPST, OMC |
| Q1 2024 | 210 | $290.7M | SMMD, VSEC, JPST, AVGO, OMC |